So I just finished my admissions flight the other day, received my first class medical, and received my acceptance letter to the ATP training program. At this rate I’m hoping to start in the middle of September, but I am curious about something. I am about to ask the bank for a $96,000 loan to get me through the program… That’s a lot of money with interest just being piled on top of it, so my question is, how are some of you guys/girls that did have to take this route doing? I plan to work a little during the program to help cover things such as gas for my car and food, but I am definitely not going to be able to take chunks out of that loan during the program. Luckily I’m just 22 and I have parents that allow me to stay at their house (for a fee of course), so I’m pretty well off, but it still seems pretty daunting. So are things pretty tight with a loan that big, or does the reimbursement program they have ease your nerves?
Austin,
I graduated the program in 2015. I started receiving Tuition Reimbursement at 900 hours. I was hired by Horizon in 2017. I’ve been flying for Horizon for over two years now. My loans will be paid off no later than 2025.
I’M STILL ALIVE! I made it this far! It wasn’t easy. I did what I had to do. As did the hundreds of graduates that graduate each year.
Tory
I am Interested
Sandra,
Could you be more specific, please? How can we help you?
Tory
Austin,
I think everyone will agree unless you hit the lottery the first few years can be a struggle but definitely doable. Back when I completed the program there was no Tuition Reimbursement, no signing bonuses and pilot pay was half what it is now. Again it was tough but I stayed afloat until I advanced and made better money.
On a side note you mention working during training. While no one can stop you I would caution you to think long and hard about this. ATPs program is highly accelerated and requires a tremendous amount of study and dedication. Many people struggle to keep up and adding work into the equation certainly won’t help. Fall behind or bust a few checkrides and it could seriously impact your career. Imagine having that $96,000 loan and nothing to show for it.
Adam
Yeah I have had a few people warn me about having a job during the program. It’s an airport job at the same airport my local ATP campus is located and my manager is willing to work with my schedule, so it sounds perfect in my head, but like you said it is a accelerated program. I know a guy who did work with me at the airport and complete ATP’s program, but that’s him, I’m me, and I’m not willing to gamble with a $96,000 loan and a opportunity of a lifetime haha. I’ll definitely continue to think about it and weigh out my options there. Thank you for the input!
There are all sorts of stories of people that worked and succeeded, but remember that mistakes in the program can cost you later. Having checkride failures in the program will affect your ability to work for the airlines later, especially the majors. You need to be able to give all of your time to the program and study as much as possible.
Chris